For digital services, automated subscription management is the most effective

Imagine opening Netflix, slogging through the interminable scroll to locate a movie to watch, and then being asked to pay a price to see just that one movie. Will you spend an extra $1 to watch the newest Marvel movie when it becomes available on Netflix? Every year, Marvel publishes 4-5 movies. Do you want to be required to pay $1 each time you want to view a Marvel movie, even several times? Doesn't that seem like a nightmare?

That's because subscription-based invoicing has become the norm for digital media companies like Netflix and Spotify, which now exclusively rely on it. No digital media platform would survive the platform-ending levels of churn caused by subscribers having to pay separately for every movie or TV show that they want to watch if an alternate billing model were even suggested, like the one we just saw above.

The Subscription-based Billing Model: Customizing It for Your Needs

The question then becomes, how can we effectively apply this sort of billing that is here to stay for good if the subscription-based billing model seems to be such a done deal that no one wants to change it or even debate it. In other words, how do we modify subscription-based billing to meet our needs if it won't be abandoned any time soon?

This conundrum's easiest solution can be found in the following portmanteau: Almost all subscription-based needs for digital media organizations can be met by Work 365, a highly adaptable and affordable subscription management tool.

Are you looking for a complete self-service subscription dashboard? With efficient auto-email correspondence, reminders, and notifications, can you provide personalized client service?

Or automated payment processing while handling dunning and proration and having the flexibility to provide different content packages and seasonal promotions? You're protected because Work 365 provides all these features and many more!

Alternatives to the Billing Model Based on Subscriptions

However, there are occasions when the administration of subscriptions for digital services calls for adjustments to a set subscription model. This is especially true for digital services that transmit content, such e-newspapers and magazines.

These newspapers frequently charge their subscribers on a per-article basis; thus, the subscriber doesn't initially pay a set fee but rather pays per view or read.

For digital service providers, a tiered charging approach often works best. Even Netflix, a company whose name is synonymous with digital subscriptions, gives its customers pricing options by offering a base membership plan and higher tiers that each provide a few additional services for a surcharge.

Tiered billing is one of the many features of Work 365, a platform well-known in the industry for its customizability, that users may employ to best serve their end users.

Additional Benefits of Using Work 365 for Digital Service Subscription Management

1. The Integration of Various Payment Gateways

Work 365 enables connectivity with a broad range of payment channels, including PayPal, Stripe, Square, and others, in contrast to the subscription management software used by many other digital service providers. This has two implications: first, the client won't need to worry that the payment gateway they or their clients may already be using won't work with the new subscription management platform that they have switched to; and second, it provides a seamless experience for both the client and their end users by facilitating smoother transactions.

2. Payments in Multiple Currencies

Digital services have a larger propensity to cater to customers from all over the world who would wish to pay in different currencies because the platform on which they offer a service is not as geography bound as those of non-digital services.

Because of this, it's critical for digital service providers to not only allow clients to pay in the currency of their choice, but also to have a subscription management system that can easily handle a variety of various currencies.

3. A decrease in the rate of customer churn

An uncontrollably high churn rate is one aspect that significantly inhibits the continuous expansion of any digital business. The true challenge arises when a business must also keep these new users to prevent them from quickly migrating to their rivals. Adding new subscribers is only half the battle.

Through its thorough reporting on a company's success and on the ways in which its customers subscribe to the service, Work 365 assists its clients in achieving this. This is done so that Work 365 and the company can both better plan by understanding how the end user spends their money to subscribe to the digital service.

Conclusion

It seems undeniable that digital services will continue to be billed on a subscription basis. With that in mind, digital service providers should start spending money on customizing already-available subscription management services, such as Work 365, to meet their demands for digital media.

By doing this, we can ensure that these services can effectively manage their subscriptions and, as a result, deliver the greatest products and services to their end users.

Work 365 is a cloud billing software and customer self service portal for Microsoft partners to streamline the provisioning, billing, and invoicing process.